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Browse our most frequently asked questions below and watch our many informative videos on a number of subjects. If you don’t find what you’re looking for, feel free to reach out. We’re always happy to help!








What even is a mortgage?
A mortgage is basically a fancy IOU that lets you buy a house without having all the cash upfront. The bank loans you the money, and you pay it back monthly, plus interest, over time (typically 30 years).
How much do I need for a down payment?
Common Myth: You need a 20% down payment. Actually, you can buy a home with as little as 3% down (Conventional), 3.5% down (FHA), or 0% down (VA/USDA). So, nope, you don’t need a suitcase full of cash.
Pre-Qualification vs.
Pre-Approval?
Think of pre-qualification as a soft handshake. Pre-approval is a solid high-five backed by documents. Sellers prefer a pre-approval because it means that the lender has fully vetted the buyer’s credit, employment, income and assets.
How do I know what my price range should be?
We’ll take a look at your income, credit, debts, and budget goals, then do some number magic to find your comfortable range (not the “I can never order takeout again” range).
How long does the mortgage process take?
About 30 days, give or take. Enough time to get overly attached to Pinterest boards and fill a Wayfair shopping cart.
What credit score do I need for approval?
Most programs start at 620, but higher scores = better rates. FHA and VA loans are a bit more flexible with FHA allowing down to a 500 score and VA allowing down to 580.
What's the difference?
Fixed-Rate vs. Adjustable-Rate?
A fixed-rate stays the same (aka drama-free). An adjustable-rate can is fixed for a set period of time (5, 7, 10 years) then changes over time. There are caps on how much the rate can change per adjustment period as well as over the life of the loan.
What's included in my monthly mortgage payment?
PITI (Principal, Interest, Taxes, Insurance). All loans will have homeowner’s insurance but some will also require mortgage insurance (PMI). If you put at least 10% down on a Conventional loan you have the option to pay your taxes and insurance separately if you wish.
Do I need two years of job history?
Ideally, yes, but no need to panic, there is flexibility on this! There are workarounds for recent grads, self-employed folks, or job changes within the same field.
What are closing costs?
How much are they?
Closing costs = the not-so-fun but necessary fees. Usually around 2–5% of the purchase price. Some can be negotiated or even paid by the seller.
Can I buy a house if I am self-employed?
Heck yes! It just takes more paperwork (and possibly more caffeine). We’ll use tax returns and other docs to prove your income. If you do not claim enough in come to qualify with your tax returns then we can look at using alternative documentation such as bank statements or 1099’s to prove income. We love getting creative!
What is PMI?
Why am I paying it?
PMI (Private Mortgage Insurance) is like a security blanket for the lender if you put down less than 20%. Annoying? Yes. Permanent? No! On most loans, it goes away eventually.
Can I use gift money for my down payment?
Yep! As long as it’s from a family member or close relationship and we document it properly. The great things is, there are no limits on gift money! Gift funds are typically NOT allowed on investment properties.
Do I need to sell my current home before I buy a new one?
Not always! There are options like buy before you sell programs, bridge loans, recasting, or renting your current place.
How much house can I buy with my income?
Depends on your debt-to-income ratio (DTI). Basically, we add up what you owe vs. what you make. It’s like adult math, but we’ll do it for you.
What if interest rates go down after I buy?
You can always refinance later - There us no crystal ball needed. Focus on buying when you’re ready, not when rates are perfect (spoiler: they never are).
Can I buy with someone else - even if we’re not married?
Of course! Friends, partners, siblings, whatever works! We just need to be clear on the paperwork and who owns what.
How do interest rates work?
Think of them like the price tag on borrowing money. Higher rates = higher payments. They change daily based on the economy, inflation, and Fed vibes. The depend on your credit score, down payment, property type (condo vs. SFR vs. duplex), lock period, and other factors.
What does it mean to pay points?
"Points" or “discount points” are upfront fees you can pay to lower your interest rate. One point = 1% of your loan amount. Pay more now, save more later. It’s important to look at a breakeven point to determine how long you will need to keep the loan to break even of the additional upfront cost in monthly savings.
What is a temporary buydown?
A temporary buydown (like a 2-1 buydown) lowers your rate for the first year or two. It’s a nice way to ease into your payment if you expect your income to grow or rates to drop.
Does it matter who my lender is?
Yes, a lot! Experience, responsiveness, and problem-solving skills can make or break your homebuying experience. Work with someone who gets it done and done right. It’s worth doing your homework!
What’s the best advice you can give me, as a first-time buyer?
Don’t go it alone. Ask questions (even the “dumb” ones), work with a team you trust, and remember that this process is temporary but your home is yours forever.
Can I buy a fixer-upper with a mortgage?
Yep! Renovation loans like FHA 203(k) or Conventional renovation programs let you roll the cost of repairs into the mortgage. It’s HGTV dreams with real-world financing.
What are the most common types of loan typically used?
Conventional = standard, flexible FHA = lower credit, smaller down payment VA = for veterans, 0% down, no PMI USDA = for rural areas, 0% down, income limits Jumbo = For loan amounts above the conforming loan limit (currently $806,500)